Showing posts with label Digital Payments Market in South Africa. Show all posts
Showing posts with label Digital Payments Market in South Africa. Show all posts

Thursday, October 27, 2022

South Africa Buy Now Pay Later Business and Market Outlook to 2027: Ken Research

 Buy Now

How Buy Now Pay Later BNPL Industry Is Positioned In South Africa?

South Africa BNPL (Buy Now Pay Later) market has displayed a significant growth since 2019 growing at double digit CAGR ~%. The market is gaining pace with positive response from customers as well as retailers. The market is moderately concentrated with 5-6 major players. The market witnessed the entry of some international players as well in the recent past. The growth in the past few years is driven by the need for extra credit line by the customers, convenience and relative ease of access to credit over credit credits, initiatives by the government to enhance digitization, and positive response from the retailers due to increased sales.

The South Africa Buy Now Pay Later Market has witnessed tremendous growth during 2019-2022. Due to the high attractiveness of the market, new domestic and international players are expected to enter in the market in the next decade. The market is in the growth stage. The market is expected to grow at a strong double-digit CAGR ~% during 2022-2027. Since BNPL hosts multiple advantages for the end-users such as the convenience to split up the total payment into 3, 6, 9 or 12 payments that are made over time and increased adoption is expected from the businesses as well since BNPL furthers gives a push to the sales as well, due to better access to credit accompanied by upfront payment to businesses, that is made by the BNPL payments on behalf of the customers. Overall market outlook is bullish.south-africa-bnpl-market

South Africa Buy Now Pay Later Market Segmentation

By Mode of Payment (Online and Offline)

Buy Now Pay Later Market in South Africa can be segmented on the basis of Mode of Payment: Online and Offline Mode where Online mode accounts for higher share at XX% as compared to the offline mode on the basis of revenue generated in the year 2022.

By Type of End Users (Retailers, Food Aggregators and Travel Merchants)

Buy Now Pay Later Market in South Africa can be segmented on the basis of Type of End Users: Retailers, Food Aggregators and Travel Merchants where Retailers account for the higher share at XX% as compared to the food aggregators on the basis of revenue generated in the year 2022.

By Age Group of Customers (Below 20 years, 20-40 years and above 40 years)

Request for Sample Report: - https://bit.ly/3N33ZZZ

Buy Now Pay Later Market in South Africa can be segmented on the basis of Age Group of Costumers: Below 20 years, 20-40 years and above 40 years where the age group ’20-40 years’ accounts for majority share at XX% as compared to below 20 years and above 40 years on the basis of revenue generated in the year 2022.

Comparative Landscape in South Africa Buy Now Pay Later Market

Competition is observed to be moderately concentrated in the South Africa Buy Now Pay Later space with majority of market being acquired by 5-6 large players. The comparison has been built on multiple factors which includes onboarding process, ease of use and brand image and Other parameters such as Number of Investors, Funding and more are covered a part of the research.

South Africa Buy Now Pay Later Market Future Outlook and Projections

South Africa Buy Now Pay Later market is expected to grow with a double digit CAGR at XX% in between 2022 and 2027 on the basis of revenue generated. The number of transactions in the South Africa Buy Now Pay Later market are expected to grow with a double digit CAGR at XX% during 2022-2027. The average order value per transaction is expected to increase with a single digit CAGR at X% during 2022-2027. It is anticipated that Buy Now Pay Later market will grow owing to factors such as increasing demand for extra credit line, increased adoption of fin-tech in the South Africa Economy, easier access to credit, increased awareness and adoption by customers and businesses.

South Africa Buy Now Pay Later Future Forecasted Market Segmentation

By Mode of Payment (Online and Offline)

Buy Now Pay Later Market in South Africa can be segmented on the basis of Mode of Payment: Online and Offline where Online mode is forecasted to account for higher share at XX% as compared to the offline mode on the basis of revenue forecasted to be generated in the year 2027.

By Type of End Users (Retailers, Food Aggregators and Travel Merchants)

Buy Now Pay Later Market in South Africa can be segmented on the basis of Type of End Users: Retailers, Food Aggregators and Travel Merchants where Retailers are expected to account for the higher share at XX% as compared to the food aggregators on the basis of revenue forecasted to be generated in the year 2027.

By Age Group of Users (Below 20 years, 20-40 years and above 40 years)

Buy Now Pay Later Market in South Africa can be segmented on the basis of Age of Costumers: Below 20 years, 20-40 years and above 40 years where the age group ’20-40 years’ is expected to account for the majority share at XX% as compared to below 20 years and above 40 years on the basis of revenue forecasted to be generated in the year 2027.

Request for Sample Report: - https://bit.ly/3N33ZZZ

Key Segments Covered: -

South Africa BNPL Market:

By mode of payment (by Revenue) 2022 and 2027:

  • Online
  • Offline

By End Users (by Revenue) 2022 and 2027:

  • Retailers
  • Food Merchants
  • Travel Merchants

By Age Group of Users (by Revenue) 2022 and 2027:

  • Below 20 years
  • 20-40 years
  • Above 40 years

Key Target Audience:

  • Bankers and associations
  • Government associations
  • Corporates
  • Investment firms
  • Government Bodies & Regulating Authorities
  • Fintech companies
  • Venture capitalists

Time Period Captured in the Report:

  • Historical Year: 2019-2021
  • Base Year: 2022
  • Forecast Period: 2023– 2027F

Companies Covered:

  • TymeBank
  • PAYJUSTNOW
  • Mobicred
  • PayFlex

Key Topics Covered in the Report:

  • BNPL Industry positioning
  • Socio demographic Outlook of South Africa
  • Presence of Global BNPL Players
  • Trends of BPNL Industry
  • Market size of BPNL
  • BNPL transaction process
  • Key Features and developments in South Africa BPNL
  • SWOT Analysis of South Africa BNPL
  • Issues and Challenges in South Africa BNPL
  • Investment Analysis of players in BNPL Space
  • Role of Government and regulations in South Africa BNPL
  • Porter’s Five force Analysis in South Africa BPNL
  • Future Market Size of BNPL in South Africa

For More Information on the research report, refer to below link: -

Buy Now Pay Later industry in South Africa

Related Reports by Ken Research: -

KSA Buy Now Pay Later Market Outlook to 2027

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

UAE Buy Now Pay Later Industry Outlook to 2027: Driven by adoption of cashless society, increasing Genz & millennials population coupled with shifting preference towards easy interest free extra credit line sources

Contact Us: –

Ken Research

Support@kenresearch.com

+91-9015378249

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Wednesday, October 26, 2022

The Covid-19 pandemic is a catalyst in exhilarating and paving way for newer companies to enter the BNPL space in the country coupled with external investments made in the industry: Ken Research

 Buy Now

No Interest Credit Payments: One of the major reason as to why BNPL is a robust mechanism inside South Africa is due to the fact that customers are allowed to pay the money in three equal instalments with no interest fee. Although, there is a carry forward fee in case the shopper misses the payment deadline, it still is almost negligible making the industry quite lucrative in a region with less per capita income. With a population of ~61 million and USD ~426 Bn GDP as of 2022, South Africa’s economy has been growing at a CAGR of 4.7% during 2016 and 2022.

south-africa-bnpl-market

Disruption Penetrated by COVID-19 Pandemic: The South Africa BNPL market boomed during COVID-19 pandemic as huge chunk of the residents lost their jobs during this period and were surviving on their savings and this push forwarded the need for extra credit line which was catered by the BNPL services. Providers such as PayFlex and PayJust Now are making robust efforts to sustain the rising interest in consumer credit financing.

Request for Sample Report: - https://bit.ly/3N33ZZZ

Lack of Awareness in the Consumer Segment: Inception of digital payments is still comparatively new in the African market and thus rural consumer segments find themselves being unaware of the latest trends in the BNPL industry. This when coupled with the digital divide in the urban-rural setting is a massive challenge for merchants and BNPL players in South Africa due to lack of means of financial awareness in the country.

South African National Payments System: The South African National Payments System (NPS) was launched in November, 1995 and it was a collaborative effort between South African Reserve Bank and the banking industry. The strategy it envisioned encompasses fundamental principles and critical success factors for reforms in the domestic payment mechanism in the Republic of South Africa. All cards issuing, acquiring and acceptance services must be in compliance with South African legislation. The directive aims to address transactions occurring within South Africa between domestic parties, where such transactions are processed as if they were cross-border transactions as a result of involvement of a foreign card issuer.

Analysts at Ken Research in their latest publication South Africa Buy Now Pay Later Market Outlook to 2027 – Driven by digitalization, government support, increasing working age population, with upsurge in Gen-Z & millennials population coupled with shifting preference towards easy interest free extra credit line sources by Ken Research observed that increasing adoption of cashless society with emergence of digital payments fueled by surging working age class will drive the traction of BNPL industry among the users in South Africa. Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services. Buy Now Pay Later industry in South Africa is expanding at a CAGR of 35.1% in between 2022P and 2027E.

Key Segments Covered: -

 South Africa BNPL Market

By mode of payment (by Revenue) 2022 and 2027

  • Online
  • Offline

By End Users (by Revenue) 2022 and 2027:

  • Retailers
  • Food Merchants
  • Travel Merchants

By Age Group of Users (by Revenue) 2022 and 2027:

  • Below 20 years
  • 20-40 years
  • Above 40 years

Key Target Audience:

  • Bankers and associations
  • Government associations
  • Corporates
  • Investment firms
  • Government Bodies & Regulating Authorities
  • Fintech companies
  • Venture capitalists

Time Period Captured in the Report:

  • Historical Year: 2019-2021
  • Base Year: 2022
  • Forecast Period: 2023– 2027F

Request for Sample Report: - https://bit.ly/3N33ZZZ

Companies Covered:

  • TymeBank
  • PAYJUSTNOW
  • Mobicred
  • PayFlex

Key Topics Covered in the Report:

  • BNPL Industry positioning
  • Socio demographic Outlook of South Africa
  • Presence of Global BNPL Players
  • Trends of BPNL Industry
  • Market size of BPNL
  • BNPL transaction process
  • Key Features and developments in South Africa BPNL
  • SWOT Analysis of South Africa BNPL
  • Issues and Challenges in South Africa BNPL
  • Investment Analysis of players in BNPL Space
  • Role of Government and regulations in South Africa BNPL
  • Porter’s Five force Analysis in South Africa BPNL7
  • Future Market Size of BNPL

For More Information on the research report, refer to below link: -

Buy Now Pay Later industry in South Africa

Related Reports by Ken Research: -

KSA Buy Now Pay Later Market Outlook to 2027

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

UAE Buy Now Pay Later Industry Outlook to 2027: Driven by adoption of cashless society, increasing Genz & millennials population coupled with shifting preference towards easy interest free extra credit line sources

Contact Us: –

Ken Research

Support@kenresearch.com

+91-9015378249

Follow Us

LinkedIn | Instagram | Facebook | Twitter